PORT OF SPAIN, Trinidad (CMC) — The Trinidad and Tobago Government says it is seeking to borrow up to US$1 billion on the international market and has appointed JP Morgan Securities LLC and Bank of America Securities Inc as joint lead managers and arrangers for the issuance.

The Kamla Persad-Bissessar administration said that the funds, which will be used for general development projects and to repay previous loans, will be raised through the international capital market, where governments issue bonds or notes to large global investors.

Under the External Loans (Tax and Exchange Control Exemption) Order, 2026, signed on Monday by Finance Minister, Davendranath Tancoo, all payments related to the notes, including principal, interest and other debt charges, will be exempt from taxes and exchange control requirements.

The notes will be offered to qualified institutional buyers in the United States (US) in accordance with Rule 144A of the US Securities Act, as well as to investors outside the US under Regulation S.